ByHeart, a New York-based infant nutrition company, has secured $72 million in funding according to a federal filing. The company previously announced a significant retail expansion into Walmart, Whole Foods Market, and Wegmans, which increased its retail footprint by over 200% last year.
Founded in 2016, ByHeart has developed what it calls “the only infant formula in the U.S. to combine certified organic, grass-fed whole milk and a patented protein blend closest to breast milk.” With its formula now available in over 1,100 Walmart stores and select Whole Foods and Wegmans locations, ByHeart now has access to retailers representing more than 70% of U.S. infant formula sales.
“When I first became a parent, it felt impossible to find a formula that met all my needs, and I knew I wasn’t alone. We created ByHeart — a recipe completely built from scratch in our own facilities that parents can trust to be both clean and clinically proven to support their baby’s health — to ensure parents never have to compromise,” said Mia Funt, Co-Founder and President of ByHeart.
The company maintains control over its manufacturing through facilities in Pennsylvania, Oregon, and Iowa, a strategy that has become increasingly important given recent supply chain challenges in the infant formula industry. According to ByHeart, it has become a “top 10% product in the addressable US Infant Formula Category in less than 1 year in the market.”
The funding is expected to support ByHeart’s continued retail expansion and manufacturing operations as it works to reach more families with its premium infant formula products.
